Trade what you see NOT what you expect | Page 985 | Forex Factory

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Trade what you see NOT what you expect

  • #19,681
  • Jul 23, 2009 8:54am Jul 23, 2009 8:54am
Quoting eohater
Good morning everyone!
Good Morning EO,

I was soo greedy and paid for it...I should have pulled up my SL's...I f the price went up 50 pips where do you pull the SL of the rest position?
  • #19,682
  • Jul 23, 2009 8:56am Jul 23, 2009 8:56am
Quoting Isty
Good Morning EO,

I was soo greedy and paid for it...I should have pulled up my SL's...I f the price went up 50 pips where do you pull the SL of the rest position?
If I'm up 50 pips on my position, profit is being booked and remaining is covered BE or +3.
Just digging in the trenches like everyone else!
  • #19,683
  • Jul 23, 2009 9:04am Jul 23, 2009 9:04am
Quoting eohater
If I'm up 50 pips on my position, profit is being booked and remaining is covered BE or +3.
Thanx EO, and one more Question...You always take half or 1/3 of the positions at 50 or depends on the expectations?
  • #19,684
  • Jul 23, 2009 9:11am Jul 23, 2009 9:11am
I love it when a little Forrest Gump turns into Wimbledon.
  • #19,685
  • Jul 23, 2009 9:15am Jul 23, 2009 9:15am
Quoting Isty
Thanx EO, and one more Question...You always take half or 1/3 of the positions at 50 or depends on the expectations?
Every trade is different. I usually take 2 lots off at +20 to +35, book 2 more at +50 and then set the rest for further targets. Not all trades are set in mind to run 100+ pips. Some are only for 20 pips and I'll book the whole position and reverse. Depends on the trade bro, nothing is set in stone. One thing is for sure, I cover at BE usually when I book my first set of profit.
Just digging in the trenches like everyone else!
  • #19,686
  • Jul 23, 2009 9:21am Jul 23, 2009 9:21am
Quoting PippiNole
I love it when a little Forrest Gump turns into Wimbledon.
  • #19,687
  • Jul 23, 2009 9:32am Jul 23, 2009 9:32am
good afternoon all
  • #19,688
  • Jul 23, 2009 9:36am Jul 23, 2009 9:36am
Quoting eohater
Every trade is different. I usually take 2 lots off at +20 to +35, book 2 more at +50 and then set the rest for further targets. Not all trades are set in mind to run 100+ pips. Some are only for 20 pips and I'll book the whole position and reverse. Depends on the trade bro, nothing is set in stone. One thing is for sure, I cover at BE usually when I book my first set of profit.
Thanx again for your explanation...Just one more question and swear not disturb you again today with my things...I opened a sub-account, so i can use two accounts now..How do you use your two accounts? I am planning to use one for a H4,H1 longer moves, and go against it on the other account to take some pips from the counter trends...Any good advice about that, or you think it is better for me to leave it for a while till i become more experienced?
  • #19,689
  • Jul 23, 2009 9:50am Jul 23, 2009 9:50am
Quoting Isty
Thanx again for your explanation...Just one more question and swear not disturb you again today with my things...I opened a sub-account, so i can use two accounts now..How do you use your two accounts? I am planning to use one for a H4,H1 longer moves, and go against it on the other account to take some pips from the counter trends...Any good advice about that, or you think it is better for me to leave it for a while till i become more experienced?
Having 2 accounts is a good idea I believe, because if your short and up, you don't want to close the account if you see an opportunity for a pullback and good pippage. I don't necessarily look for one for longer term trades and one for shorter term trades, it just works out that way. For example, if I would have gotten long from 6359 yesterday, I would still be holding that position, but short like I am now in my other account at 6540. Both positions would be in profit and I'd manage the trades from there.
Just digging in the trenches like everyone else!
  • #19,690
  • Jul 23, 2009 9:52am Jul 23, 2009 9:52am
you guys can't hold shorts and longs in a single account?
'The past will always show us the future'
  • #19,691
  • Jul 23, 2009 9:54am Jul 23, 2009 9:54am
Quoting davids
good afternoon all
How's the weather across the pond dear bro?
Just digging in the trenches like everyone else!
  • #19,692
  • Jul 23, 2009 9:55am Jul 23, 2009 9:55am
Quoting eohater
Having 2 accounts is a good idea I believe, because if your short and up, you don't want to close the account if you see an opportunity for a pullback and good pippage. I don't necessarily look for one for longer term trades and one for shorter term trades, it just works out that way. For example, if I would have gotten long from 6359 yesterday, I would still be holding that position, but short like I am now in my other account at 6540. Both positions would be in profit and I'd manage the trades from there.
Thank you so much again, and many many pips for you today...nice big moves...
  • #19,693
  • Jul 23, 2009 9:55am Jul 23, 2009 9:55am
Quoting terje
you guys can't hold shorts and longs in a single account?
Not in my accounts. Anti Hedging law for US accounts prevents this. If I'm short and go long in the same account, it closes my short position. For example, I'm short 10 lots and go long with 20 lots, it closes my 10 lot short and leaves 10 lots long on the table.
Just digging in the trenches like everyone else!
  • #19,694
  • Jul 23, 2009 9:57am Jul 23, 2009 9:57am
Hey guys, hope everyone is doing well.Do you have any ideas on the DOW staying above 9000?
Please ask questions and share your experiences with us all!
  • #19,695
  • Jul 23, 2009 9:57am Jul 23, 2009 9:57am
Quoting Isty
Thank you so much again, and many many pips for you today...nice big moves...
Anytime bro! Let's all get some nice green pips today! My short from 6540 has booked 30, SL on the rest is on the other side of 6550.
Just digging in the trenches like everyone else!
  • #19,696
  • Jul 23, 2009 9:58am Jul 23, 2009 9:58am
Quoting eohater
Not in my accounts. Anti Hedging law for US accounts prevents this. If I'm short and go long in the same account, it closes my short position. For example, I'm short 10 lots and go long with 20 lots, it closes my 10 lot short and leaves 10 lots long on the table.
thanks for explaining, I didn't know about that law in the US. In the UK, with spreadbets anyway, you can force open a ticket in the opposite direction in the same account. Now I know why you guys use 2
'The past will always show us the future'
  • #19,697
  • Jul 23, 2009 10:00am Jul 23, 2009 10:00am
Quoting bkg102665
Hey guys, hope everyone is doing well.Do you have any ideas on the DOW staying above 9000?
I think it's bullshit, but what do I know. Everyone in America thinks the world is back on track and better times are here again. They have no fuckin clue. I'm still bearish on the DOW, regardless of this last week's activity.
Just digging in the trenches like everyone else!
  • #19,698
  • Jul 23, 2009 10:01am Jul 23, 2009 10:01am
Quoting terje
thanks for explaining, I didn't know about that law in the US. In the UK, with spreadbets anyway, you can force open a ticket in the opposite direction in the same account. Now I know why you guys use 2
Just digging in the trenches like everyone else!
  • #19,699
  • Jul 23, 2009 10:01am Jul 23, 2009 10:01am
I own my own business and I agree with you, the economy is still SHIT from where I sit!!
Please ask questions and share your experiences with us all!
  • #19,700
  • Jul 23, 2009 10:07am Jul 23, 2009 10:07am
Quoting eohater
How's the weather across the pond dear bro?
Good Mate nice sunny day here today good day for golf
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